Re: Never Be Late, Ever

Thanks for bumping this, whoever did! This should be stickied, if its not already. You are penalized way too harshly for lates - I'm dealing with lates from 2 years ago! Even the utility companies return your deposit after 12 months no lates, and inquiries lose impact after 12 months.

I think a lot of people don't equate late with not paying. Its definitely a certain mindset you have to get into, where paying late is like a deadly sin, lol.

I have set up auto-pay wherever possible, but I'm in my accounts daily anyway so its not difficult to always know what's due.

I did the score simulator or estimator at one of the sites and it showed me anywhere from 80-100 point increase if I can get those lates removed from 2010, so I'm waiting on the response from a GW letter.

Re: Never Be Late, Ever

Recent late payments affect your credit score more than aged late payments, up to about the 2 year mark. However, late payments remain on the credit report for 7 years with the account being reported as a negative account.

Even though my credit score is in the high 700s, I'm looking forward to June, 2015 when my only delinquent account is scheduled to go into positive status.

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.